Sos Ltd - ADR (NYSE:SOS) shares are trading lower by 36.5% at $0.47 after the company announced pricing of a roughly $20 million registered direct offering.
SOS Limited says, under the terms of the securities purchase agreement, the company has agreed to sell 35,750,000 ADSs at a purchase price of $0.56 per ADS. SOS Limited intends to use the proceeds from the offering to develop its business in North America as well as for working capital and general corporate use.
